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The New Roles of Management Accounting, 2002.
Discusses how traditional management accounting is adapted to contemporary economics.
3,813 words (approx. 15.3 pages), 22 sources, APA, £ 73.95
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Abstract
This paper examines the applicability of traditional management accounting techniques in the modern market-driven environment, along with the new roles and responsibilities that are vital for thriving management accountants. The paper shows that it is imperative for management accountants to acquire critical skills, namely communication and analytical expertise, comprehensive knowledge in the area of accounting, information technology and the business and the ability to work in a team, so as to fully reap the benefits of the new advanced approaches.
Table of Contents:
1 Introduction
2 The Evolution of Management (Cost) Accounting
2.1 Single-Activity Enterprises
2.1.1 Early Nineteenth Century ? Textile Mills
2.1.2 Middle Nineteenth Century ? Railroad Companies
2.1.3 Late Nineteenth Century ? Large Retailers
2.2 Scientific Management Movement and Standard Costing
2.2.1 The Scientific Management Movement
2.2.2 The Emergence of Standard Costing
2.3 Multi-Activity Enterprises
2.3.1 Return on Investment (ROI)
3 Critique of 20th Century Management Accounting
3.1 Lack of Relevance
3.2 Cost Distortion
3.3 Inflexibility
3.4 Incompatibility with World Class Approaches
3.5 Inappropriate Links to the Financial Accounts
4 21st Century Management Accounting
4.1 The Focus of Future Management Accounting
4.2 The Role of Future Management Accounting
4.2.1 Internal Consultants or Business Analysts
4.2.2 Team Member / Leader and Advisor
4.2.3 Financial Information Specialists and Information System Designer
4.3 Critical Skill Required By Management Accountants
4.3.1 Sound Understanding of Accounting Knowledge and Skills
4.3.2 Comprehensive Understanding and Competence of Business
4.3.3 Communication Skills
4.3.4 Analytical Skills
4.3.5 Knowledge of Information Technology Systems
4.3.6 Teamwork
5 Conclusion
6 Bibliography
From the Paper
"According to a survey by the UK?s Institute of Internal Auditors (2001), communication skills are considered to be the most prized attributes of the internal accountants. The changing role and functions of management accounting entail management accountants to actively participate within cross-functional teams. Thus, it is fundamental for these professionals to possess strong communication skills, as they are required to liaise with managers and guide the firm?s strategic and tactical decisions on a daily basis (McNair, 2000). As such, communication skills are important for these professionals to communicate throughout the organization, which ranges from senior management to support staff levels, as well as vendors, competitors, and other professionals."
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The Crown and Thistle: Management Accounting Techniques., 2002.
Reports on the usefulness of incorporating management accounting techniques in businesses and recommends an approach to The Crown and Thistle Complex.
2,650 words (approx. 10.6 pages), 5 sources, £ 69.95
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Abstract
This paper is a report showing how management accounting techniques (e.g. accounting for material costs and accounting for overheads) could be usefully introduced into a business. In today's global society, many advanced management accounting techniques are being developed and used. Without these, a company may not survive in the long run. The Crown and Thistle Complex is recommended to use cost-volume-profit (C-V-P) analysis, cost behavior information and activity based costing to stay ahead of its times in its quest to provide excellent services.
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Strategic Management Accounting, 2006.
A discussion and overview of the ideas and issues behind strategic management accounting.
1,625 words (approx. 6.5 pages), 7 sources, MLA, £ 36.95
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Abstract
This paper explains that strategic management accounting is a balancing tool for top management that balances risk with opportunity, changes in the market place with pricing, profitability with expansion, and even diversification with withdrawal of an unsuccessful product line. The paper further explains that strategic management accounting is a tool that no modern corporation, regardless of size or its product, can do without in today's global, competitive economy.
From the Paper
"During the last few years, the ideas and issues of strategic management accounting have received widespread attention in accounting literature and studies. To some, these theories have seemingly been accepted without rigorous investigation. The fact remains that the burden of management is not merely to control people, products, and the bottom line, but to make use of forecasting, turning assumptions into reality, and to utilize accounting figures into making the proper decisions. Accounting, it turns out, has become far more than a "numbers" arm of management. It has become a means of finding the right and most profitable paths to growth and a strong market position."
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Strategic Management in Accounting, 2005.
This paper examines three journal articles on the subject of strategic management in accounting within an organization.
1,125 words (approx. 4.5 pages), 7 sources, £ 31.95
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Abstract
This paper discusses three articles: "Strategy Formation: The Roles of Conversation and Design" by Leidtka (2001), "Strategy as Strategic Decision Making" by Eisenhardt (1999) and "Organizational Structure: Looking Through a Strategy Lens" by Keats and O'Neill (2001). The author points out that modern organizations create and maintain value through the implementation of strategic management methods. The paper relates that these articles demonstrate that there is no one strategic management formula but rather that the possibilities are varied and can be tailored to the individual needs of the organization.
From the Paper
T"he purpose of this essay is to critically evaluate three separate journal articles that al focus on the role and importance of strategic management in the modern organizational setting. The first is "Strategy Formation: The Roles of Conversation and Design" by Leidtka (2001). The second is "Strategy as Strategic Decision Making" by Eisenhardt (1999). The third article is "Organizational Structure: Looking Through a Strategy Lens" by Keats and O'Neill (2001). All three of these articles will be compared and contrasted, described, critiqued and supported with other references from the literature. The purpose here is to identify the fact that modern organizations create and maintain value through the implementation of strategic management methods. These articles demonstrate that there is no one strategic management formula, but rather that the possibilities are varied and can be tailored to the individual needs of the organization."
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The Management Accountant and Strategic Partnering, 2003.
Discusses the evolving role of the management accountant and how the role is fitting into corporations as strategic partnering.
1,176 words (approx. 4.7 pages), 4 sources, APA, £ 28.95
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Abstract
A review of an article in the Fall 1999 Management Accounting Quarterly (written by Rusell et al), infers that the changing role of the accountant includes all forms of accounting professionals. The paper shows that not only do management accountants analyze financial information, review tax and other regulatory issues and execute much of the traditional accountant duties, but they are now migrating to be included in executive teams involved in strategic planning issues. The paper shows that accountants are involved in corporate technology and new product developments. In other words, they are now accountants with supplementary management. The paper makes use of charts.
Table of Contents
Introduction
The Evolution of the Management Accountant
The Management Accountant and Strategic Partnering
What Does It Mean to Me
Conclusion
References
From the Paper
"Reinvention on a grand scale appears to be the order of the day. Failure to provide today?s Management Accountant with the tools it needs tomorrow just adds risk of the profession becoming a marginal discipline (i.e., deskilled, decentralized and disappearing (Parker 7)). Therefore, the need is great for a partnering of sorts in which to provide the reinvented Management Accountant with a broader knowledge base that includes areas such as operations, product and process technology, systems, marketing and strategic management. The focus must be switched from historical accounting stewardship to strategic planning. For the traditional Management Accountant, this will be like putting on a new pair of shoes; and for those that challenge change, the shoes may be a little tight."
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The Differences Between Financial And Management Accounts, 2002.
Argues that there are practical issues, as well as legal issues, that determine the differences between financial and management accounts.
1,150 words (approx. 4.6 pages), 3 sources, £ 31.95
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Abstract
Perhaps one of the most prominent discussions involving accounting has to do with the differences between financial and management accounts. Some regard these differences to be a question of legality. Companies are required by law to submit financial statements based on certain requirements. On the other hand, management accounting can be structured to suit the needs of the company. However, the fact that firms can structure their management accounting statements according to their needs might lead one to suggest that major differences between these two systems relate to practicality. With this in mind, it is hypothesised that while legal issues are important for determining the differences between financial and management accounting they are not the only considerations, one must also consider the extent to which practical considerations contribute to the development of these differences.
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The History of Management Accounting, 2006.
A study providing a review of the relevant literature to identify changes in methods of product costing, investment analysis and organizational performance evaluation.
3,967 words (approx. 15.9 pages), 14 sources, MLA, £ 75.95
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Abstract
The paper is based on work by Robert N. Anthony that identified several significant changes in management accounting in recent years, providing an overview of management accounting and how it is used today. The paper discusses the need to go beyond cost accounting to integrate organization theory, behavioral sciences and information theory in a multidisciplinary approach to facilitate managerial decision-making.
From the Paper
"Clearly, managers today need timely information upon which to base informed decisions, and management accounting represents a solid framework in which this information can be gathered, analyzed, interpreted and communicated to those who are in a position to need to know. Not surprisingly, then, management accounting has become a hot topic in recent years, due in large part by the demands from governmental regulatory agencies such as the Securities and Exchange Commission and Internal Revenue Service, that require specific financial measures to be reported."
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The New Management Accountant, 2002.
Looks at the effects technology has had on the function of management accountants and financial managers.
3,150 words (approx. 12.6 pages), 6 sources, £ 81.95
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Abstract
This paper looks at how new technology has changed the roles and functions of managment accountants and financial managers.
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Financial & Management Accounting, 1986.
Concepts & applications of recording financial activities & discovering data relationships to enhance decision making process. Looks at balance sheet, flow of funds, inflation, inventory value, costs and input-output analysis.
3,825 words (approx. 15.3 pages), 26 sources, £ 95.95
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From the Paper
" It is the purpose of this research to examine the concepts and applications of both financial and management accounting. Financial accounting is concerned with recording the actual financial activities of an organization, while managerial accounting is concerned with the discovery of the relationships in the financial data will enhance the managerial decision-making process. Garrison (1982, p. 13) has identified eight factors and characteristics which differentiate between financial and managerial accounting:
1. Managerial accounting focuses on providing data for the internal use of an organizations managers, while financial accounting focuses on providing data for external uses by investors and creditors."
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Financial Managers and Accountants, 2004.
An analysis of the differing roles of financial managers and accountants.
747 words (approx. 3.0 pages), 1 source, MLA, £ 18.95
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Abstract
The role of the financial manager has become more predominate over the last few years and is different from the role of an accountant. This paper discusses how financial managers have become more of a "hot commodity" because they provide more than just knowing how to record, and track transactions. It explains how a financial manager is involved in the vital roles of planning, budgeting, and analyzing risk.
From the Paper
"A Financial managers role works closely with accountants yet have a different role than an accountant. Financial managers are involved in the decisions that flow assets from investors to the companies and back to the investors. This typically is done to create a return on investments. They are the ones that make decisions on how to obtain financing for the companies, and then in turn how to use those assets to generate a return. This involves financial decisions about how they actually want to raise the money that will be utilized for the investment, and also the capital budgeting or which real assets the company will acquire."
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Accounting and Financial Management, 2002.
Discusses the differences between accountants and financial managers.
1,900 words (approx. 7.6 pages), 3 sources, £ 50.95
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Abstract
This paper examines the profession of accounting and that of financial management and the different issues both address, as shown primarily by the book "Fundamentals of Financial Management" by Eugene F. Brigham.
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Managerial Accounting--Cost Management, 2005.
A case study analysis of a mental health organization faced with budgetary cuts.
675 words (approx. 2.7 pages), 0 sources, £ 18.95
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Abstract
This paper looks at a mental health organization which is destined to face drastically reduced or eliminated discretionary costs.
From the Paper
"Identify which costs you think are likely to be discretionary or committed costs. The list of discretionary costs includes supplies, advertising and promotion, professional meetings/dues, transportation, and consulting. Committed costs consist of all the salaries, accounting/billing, and other activities/costs requisite to engage in the primary business activity. One possibility is to eliminate all discretionary costs. The discretionary costs could easily be eliminated or at the least reduced. However, this option is rarely good for morale and often increases costs in other areas unforeseen in the planning process. Yet, when faced with a required reduction in budget, these are the areas that must go first. In the following budgetary periods, strategies to reduce the fixed/operating costs, such as property/facilities overhead should be examined. "
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History of Accounting, 2008.
This paper presents a chronological history of accounting from early civilization to modern times.
1,990 words (approx. 8.0 pages), 6 sources, APA, £ 44.95
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Abstract
In this paper, the author traces the history of accounting from the days of early civilization by looking at its gradual development over the next centuries during which writing was invented by accountants; the "invention" of money, banking, and credit during the ancient Greek and Roman civilizations; the introduction of the innovative double entry bookkeeping system by accountants in the 16th century that fueled the Italian Renaissance; the use of sophisticated cost accounting techniques by smart entrepreneurs during the Industrial Revolution; the expanding role of accounting in businesses in the late 19th and early 20th century, and finally, the current state of the accounting profession.
Outline:
The Earliest Traces of "Accounting" in History
Mesopotamian Accountants Invent Writing
Accounting in Ancient Egypt and China
Invention of Coined Money and Banking
Accounting in Medieval Age
Invention of Double Book-keeping by Italian Merchants
Accounting's Role in the Industrial Revolution
Expanding Role of Accounting
The Current State of the Accounting Profession
From the Paper
"Increasing government regulations such as the Bankruptcy Act of 1869 in Britain increased the accountants' role in bankruptcy and liquidations. The Companies Act of 1862 required banks to be audited and the audit became mandatory for all public companies by the end of the century. This further expanded the role of the accountant in auditing. Industrialization in other countries of Europe and the United States at the end of the 19th century and early 20th century, and the rise of big business coincided with the invention of important accounting and business gadgets such as the calculator, typewriter, and tabulating machines. This gave a further boost to accounting and it gradually became an established profession. Accounting firms such as Cooper Brothers (later, Coopers & Lybrand) were formed and big business firms such as Carnegie Steel adopted sophisticated cost accounting to control operations, cut costs, and even eliminate competition to earn huge profits (Ibid). Du Pont, J.P. Morgan, Standard Oil, and General Motors were other big business firms in the U.S. that thrived after adopting modern cost accounting methods."
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Accounting History, 2002.
The history of accounting from 1929-2002.
1,150 words (approx. 4.6 pages), 8 sources, £ 31.95
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Abstract
This paper covers the history and development of accounts from 1929 to 2002 and the associated base that began prior to the Great Depression.
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